GM is currently in fierce competition for China’s auto market with Volkswagen AG. Volkswagen recently announced that it plans on investing $24.8 billion in its China operations through 2018. Volkswagen overtook General Motors in 2013 as the top-selling foreign automaker in China. Out of nearly 22 million new cars sold in China in 2013, Volkswagen sold 3.27 million compared to GM’s 3.1 million.